How To Increase The Value Of Your Home
From loft conversions and kitchen upgrades to sprucing up the front door, we reveal how to increase the value of your home.
If you want to sell your home for the best possible price, then you need to take proactive steps to make it stand out from the crowd. Changes from a simple lick of paint and fixing rusty gutters to applying for planning and loft conversions can make a big difference and increase the value of your home by thousands of pounds.
Here’re our top ten changes to make:
Care And Maintenance
Before you think about upgrading, consider the basics first. If your plumbing leaks or you have rusty gutters, have them fixed or replaced; these kind of fixes go a long way and can often clinch a deal, since the buyer won’t be put off by a property with a huge DIY to-do list.
Consider A Loft Conversion
A loft conversion definitely has its perks; it’s the easiest way to add another bedroom to your home, it isn’t particularly disruptive since most of the work can be done from the outside, and it can add an average 12.5% to the selling price.
If your home is in an area where parking is at a premium, consider pushing your front garden aside to make way for a spacious driveway. To pave over your front lawn, you may need planning permission and it can cost £10-20,000, however the added value could be as huge as £50,000 for homes in urban locations.
Spruce Up Your Front Door
The front door is the first thing home buyers will see when arriving to your property, so making sure it looks presentable is a must, otherwise they’re going to run the other way. New doorknobs can be bought for as little as £35 and letterboxes are as cheap as £25, so you really have no excuse.
If you’re going to invest heavily in one room, make it the kitchen; as many home professionals would agree, the kitchen has now become the showpiece area of the home and can add up to 4.6% onto the value of your home.
If you’re renovating simply to sell then keep the choice of bold colours and loud patterns to a minimum. While you might love the idea of yellow tiles against magenta walls, complete with blue cabinets, chances are potential buyers won’t so it’ll be a waste of money. Instead just keep it simple; use neutral colours, be smart with lightning, get rid of clutter, ensure easy access to the all important kitchen triangle (sink, fridge and oven) and change any old fittings so your kitchen doesn’t look outdated. Finally, make sure you match your spend to the value of your house; don’t spend £30,000 on a kitchen for a house valued at £250,000, equally don’t put a £5,000 kitchen in a £1,000,000 property as it’ll drag the price down.
Replace The Windows
If your windows are outdated or don’t match the exterior of your home, think about getting them replaced. If your budget is tight, consider replacing the front windows; potential home buyers will be more interested in how the house looks from the front rather than the back.
Target Your Buyer
Work out what sort of buyer is most likely to be interested in your home and tailor your property to meet their needs. So think flexible - should you present the spare room as an office, gym, playroom or study?
The hallway is usually the first place the buyer will see and it’s often cluttered full of coats, trainers, prams, the list goes on. Tidy it up and create an illusion of space by hanging a mirror on either side of the wall. Also, think about knocking down walls that aren’t load-bearing; buyers are more bothered about seeing space and potential rather than the number of rooms in a property.
Paint, Paint, Paint
Giving the inside and outside of your home a fresh lick of paint is one of the simplest and most cost effective ways of adding value to your home, making it a no-brainer if you’re serious about selling. Make sure you pick neutral colours and avoid bold hues that, while personal to you, will hide the potential of the property to prospective buyers.
Apply For Planning
Even if you can’t afford to do a conversion or build an extension yourself, you’ll add value to your home simply by securing permission to do so; you’ll spend around £1,000-£2,000 getting a survey, design and planning but add thousands to your sale price.